The meat market in India grew from 4.88 million metric tons in 2014 to 5.74 million metric tons in 2023, exhibiting a gradual increase. In 2023, the market volume stood at 5.74 million metric tons with a year-on-year growth of 0.84%. The compound annual growth rate (CAGR) over the last five years (2019-2023) was 0.64%, indicating modest growth. Significant annual growth variations were observed in 2015 (4.48%) and 2018 (4.63%), while minor declines or slowdowns occurred in 2019 (-0.34%) and 2017 (1.12%). Forecasts suggest the market will reach 5.97 million metric tons by 2028 with a 5-year CAGR of 0.61% and an overall growth rate of 3.11%.
Future trends to watch for include shifts in consumer preferences towards plant-based meats, regulatory changes impacting meat production, and advancements in meat processing technologies. Additionally, economic factors and health consciousness among consumers may influence market dynamics.
